MAM
Ormax Media eyes 100% growth in FY’12
MUMBAI: Media research and consulting firm Ormax Media aims at doubling its revenues in FY‘12 as it looks at the regional markets and plans to launch new products across categories.
The company had achieved an 80 per cent growth in 2010-11 over the earlier year.
“We saw almost 80 per cent growth from 2009-10 to 2010-11. In fact, the plans for 2011-12 are for an even higher growth rate, of about 100 per cent. We believe that we are still a young company and while we are now firmly established and positioned as media and entertainment experts, there are still many frontiers to cross,” said Ormax Media co-founder & CEO Shailesh Kapoor.
Kapoor claims that his firm has no competition at present as there is no research company investing in creating media and entertainment knowledge the way Ormax Media is. “If anyone were to start attempting this today, it would take them at least 2-3 years to reach to our level of data and products,” he said.
The company has invested in creating products and tools over the last three years that can be used across the industry. Ormax boasts of 18 trademarked products and believes that there are many other needs that can be addressed.
“We have done extensive work in the news genre, but I believe we have a lot more to contribute in that area. Regional channels is another area I‘m extremely keen on, especially down South. We have made several breakthroughs in Bollywood, and today, eight leading film production companies are working with us. However, I believe that the potential of film research in India is several times bigger than what is being explored currently. So, as you can sense, there is so much to do across categories. It should keep us busy for a while,” Kapoor added.
At present, Ormax Media is working with 35 TV channels and has worked on 18 films. It is also targeting media agencies to widen its reach. It is working with Mindshare, Maxus and Lintas.
“There have been two areas in which we do work relevant to media agencies. One of them is evaluation of media associations. For example, if a brand has invested heavily in sponsoring a programme, we will help them measure the actual impact of the association. We have done several such studies now, and have a very powerful index called Branding Effectiveness Index (BEI) to measure the success of such media associations. The second area is cricket. Our syndicated study, Day After Cricket (DAC), tracked ad recall and likeability during World Cup and IPL this year. In fact, we are coming out with a consolidated report on the two events, which will be enormously useful for advertisers and agencies for taking more informed cricket buying decisions,” Kapoor elaborated.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
